unrest in greece. a general strike turns ugly. demonstrators face off against police. welcome to "newsline." i'm catherine kobayashi in tokyo. much of greece came to a standstill on wednesday as tens of thousands of people walked off the job. the action is part of a two-day strike ahead of a crucial vote in parliament on a new round of salary cuts and tax hikes. >> reporter: greeks are descending on the streets in central athens to take part in the demonstration. >> the nationwide strike began on wednesday morning, when public transport and other workers left their workplaces in response to calls from labor unions. in athens more than 120,000 people took to the streets in

the largest protests since the greek debt crisis surfaced in 2009. but the demonstrations turned violent when some of the protesters started smashing store windows and throwing fire bombs at police, who responded with tear gas. the greek parliament gave initial approval to a new round of austerity measures in a vote late on wednesday. a final vote is scheduled for thursday. the measures include tax hikes, cuts to pensions and wages, and a reduction of 30,000 government jobs. prime minister george papandreou hopes to secure a final vote in order to secure new loans from other you'eurozone members and international monetary fund. china has sharply reduced its holdings of u.s. government bonds after a credit rating agency downgraded u.s. debt in early august. the latest data released by the u.s. treasury department on tuesday show that china's holdings of u.s. treasures fell

to $1.173 trilli37 trillion at f august. that's down from $1.173 trillion a month earlier. this marks the first time this china has sold so many u.s. treasures in a single month. we spoke to christian carillo, director of asia pacific interest rate strategy at societe general securities in tokyo on what the impact on markets might be. >> the chinese, the pboc and its international reserve arm, are in the process of diversifying away from u.s. treasuries. this is mainly a result of their policy to try to realign their exchange rate at a more acceptable level in the international market. so it's normal for chinese

authorities to be opportunistically trying to sell holdings of u.s. treasuries and buy other things. the u.s. is still a major currency in international markets, not only because of the ratings themselves but also because of the uses of the u.s. dollar both in investment and commercial transactions. at the same time, one of the reasons why yields are as low as they are right now is that there is not as much dollar debt outstanding as there used to be. so it's not clear where else investors would put their money. >> that was christian carillo, director of asia pacific interest rate strategy at societe general securities in tokyo. china's largest producer of rare earth metals has temporarily suspended production in a move it says will help balance supply and demand. bao tou steel rare-earth hi-tech announced it was halting smelting and separation at its

processing plants for one month starting on wednesday. it cites the continuing falling prices, low demand, and oversupply. it says the stoppage will stabilize the market. the company's based in inner mongolia in northeastern china. rare earth metals are in high demand as they're used in many everyday devices such as hybrid vehicles and air-conditioners. but china's export controls have pushed up the international prices of the metals. the decision by baotou rare earth is likely to make it even harder to procure the metals and may affect high-tech firms sxo who have limited stocks of rare earth metals. china says direct investments from the eu in the nine months through september this year have fallen from the same period in 2010. chinese ministry of commerce spokesperson shen danyan told reporters on wednesday that investments from january through september amounted to about $4.18 billion. that's down 1.8% from a year

ago. direct investments from the eu to china propheted a double-digit increase last year and kept rising until august this year. but the total from january through september has seen a drop compared with the same period last year. this is apparently because more eu companies are scaling back in chinas euro zone debt worries mount. the european union has decided, or agreed in principle to tighten rules against the short selling of shares and bonds and to temporarily ban trading in emergencies. representatives of the european parliament and member states reached the agreement on wednesday after discussing rules for speculative financial tradi trading. it means investors will have to report to financial regulators of member states. governments will be allowed to temporarily ban trading during market turmoil. speculative trading of credit default swaps on government bonds will be banned in principle. the rules are expected to get

final approval from european parliament and eu finance ministers next month. they'll take effect on november 1st, 2012. and next we go to our bureau in bangkok. for the latest on what's going on in the region. >> we begin with an update on the floods in thailand. the governor of bangkok has called on citizens to remain alert and be prepared to evacuate. the warning comes as larger than expected amounts of water descend from the north toward the capital. the fiscal and economic damage to the country is worsening by the day. work to reinforce flood barriers has continued around the clock. more than 1 million sand bags have been deployed. but it seems that won't be enough to save the entire city. the bangkok metropolitan administration issued a warning on wednesday to seven districts in the north and east of the

city. it asks residents to be prepared for severe flooding within the next 24 hours. six industrial estates in thailand have already been submerged. attention has now shifted to another threatened zone, an industrial park. the latest government estimate predicts that more than 600,000 jobs are at risk. some 14,000 factories across the country have been inundated. thailand's finance minister says the economy may shrink 1.1% in the fourth quarter from a year earlier. at least 317 people have been killed since july, making these the worst floods to hit thailand in half a century. security in pakistan has been worsening ever since u.s. forces killed osama bin laden in may. insurgents have stepped up their attacks in that country, too.

one especially alarming trend is the increasing number of young suicide bombers brainwashed by islamic extremists. nhk world's nazr al islam filed this report. >> reporter: nhk has obtained this footage of a training camp belonging to the pakistani taliban, the largest islamic fundamentalist group in the country. the camp is situated in a mountainous region near the border of afghanistan. the trainees in the footage are all young boys.

more and more young trainees like these have blown themselves up in pakistan and afghanistan. terrorist groups use boys because they draw less suspicion from the military and the police. 19 years old, nassar han lives in this neighborhood. he was just 17 when members of the pakistani taliban stormed into his house and took him away. >> translator: they took me to the mountain over there. they handed me a bomb and told me to join the jihad. >> reporter: nassar says his abductors slashed his arm and put a knife to his throat when he refused them. he eventually managed to escape but says many other boys are still being held at the camp.

>> translator: i still have nightmares about the horror i experienced. the memory haunts me. abductors may return. >> reporter: in a bid to improve the situation, the pakistani government built a facility two years ago to rehabilitate boys rescued from islamic extremists. about 200 of them live here. they are being retrained to eradicate the extremist ideas planted by their abductors. >> translator: the taliban told me i can go to heaven if i blow myself up. >> translator: all my friends died as suicide bombers. >> reporter: the retraining lasts six to nine months. 500 boys have already rejoined society. >> a lot of therapy. a lot of intervention at

therapeutic level in sessions, in group session, deradicalization, teaching them the proper concepts of islam. >> reporter: but despite such efforts by the government, fundamentalist groups say they will continue to use boys for suicide bombing. >> translator: we alone have more than 2,000 boys being trained as suicide bombers. after the death of sheik osama bin laden, the boys are even more motivated to battle the infidel. >> reporter: pakistan has collaborated with the united states in its war against terrorism, but the islamic nation now also faces a worsening terror threat from within. nazar ul islam, nhk world, islamabad. >> and that wraps up our

bulletin. "newsline" is the place to turn to for the latest on japan post march 11th. we have two segments offering two unique perspectives on the fallout from the earthquake and tsunami. "nuclear watch" brings you insight and information on the impack of the fukushima daiichi crisis. and "the road ahead" examines japan's efforts to recover and rebuild. don't miss "nuclear watch" and "the road ahead" on "newsline." a city in fukushima prefecture has begun monitoring radiation levels of farmlands and forests. tomura city asks the japan radiological agency -- despite the government lifting an evacuation notice for the area. the city lies outside the 25-kilometer no entry zone around the fukushima daiichi nuclear plant but officials are concerned about radiation

levels. on wednesday the japan atomic energy agency began testing forests and a 4.5-hectare rice field using an unmanned helicopter equipped way geiger counter hovering about 20 meters off the ground. data is transmitted in real time and converted into radiation levels one meter above ground. the agency uses aircraft to measure radiation levels of large areas and locations that are difficult to access. >> we'll be able to spot an area with high raudation levels. i hope the aircraft makes the decontamination work much easier. a job is something many people in northeastern japan would love to have right about now. the march 11 earthquake and tsunami left tens of thousands unemployed. but we've learned some businesses are having a hard time finding workers or even getting former staff members to return. that's a problem in ofunato in

iwate prefecture. it's one of the hardest-hit areas in northeastern japan. the fishing business alone accounts for nearly half of its economy. nhk world's hiroki yajima has the story. >> reporter: mikio is the president of a marine products company in ofunato, iwate prefecture. business hasn't been the same since march 11th. the tsunami killed two of his workers. it also destroyed his three factories and his plans to expand. he halted operations and discharged his 100-member staff. he focused on repairing his factories. they were up and running in

july. but only 60% of his employees have returned. he's calling workers to personally invite them back. one former employee he reached says she's collecting unemployment. she's had interviews with seven other companies but hasn't been hired. >> translator: you're asking me to come back to work. but it's hard. if another tsunami were to hit, i would be worried about my childr children. i want to go back to work, but i just can't do it. not at that location. >> i can't make you come back if you don't want to. but it's a pity.

>> he's also short on technical interns from china. they come to study marine processing techniques. the chinese government issued an evacuation advisory after the march 11th disaster because of fears about aftershocks and the spread of radiation. all 20 trainees went home. only half returned. >> translator: my family was against it. my children told me not to go. i told them it's something that happens once every 1,000 years. my income in japan is $400 higher than at home. >> the interns left in the summer. he has not secured new trainees.

>> translator: i'm having trouble hiring people. andstarting to become a problem. if i give up this business, i'll have nothing but debt. so i have to keep moving forward. this is a big challenge. >> earlier our reporter hiroki yaj ma spoke with vice president of iwate university. he's the head of reconstruction projects for the iwate coast. >> reporter: professor, the march 11th tsunami destroyed ofunato and actually a large stretch of japan's northeast coast. what's your take on how businesses are coping seven months on? >> well, the tsunami affected all types of businesses. the hardest hit is fishing industry. fishermen cannot put out their

nets because there is still debris in the water near the coast. the tsunami also swept away many fishing boats. fishermen who still come fish have few options when it come to storing and processing their catch. some seafood processors have reopened, but not enough. these factors are helping to lower the price of the fish that have been caught in ofunato this year, and the fish elsewhere in japan. and unfortunately, for certain people who worked in the area are unemployed now. many worry they will never be able to find job again. >> reporter: so how will the reconstruction process change japan's fishery industry.

>> the coastal iwate prefecture stretches more than 200 kilometers, and it has more than 100 ports. 30 construction plans call for the seafood processing factory to be consolidated into several bases. some ex-pats insist new facility should be built away from the shore. but that's not a practical option, i think. the problem is reconstruction plan is not clear about when and how much will be paid to the businesses. this has slowed the process. business owners should be encouraged to rebuild their farms, which give the younger people opportunity to continue to work in the affected area and

not to be forced to move away. i believe the fisheries industry will continue to be a vital part of northeast economy. university master educated student who are planning to work in that sector. the march disaster is requiring us drastically change our mindset. we should not simply aim to rebuild. we should try to create a new society from scratch. >> thank you so much, professor. >> nhk world's hiroki yajima speaking with professor akira yirabuchi, head of reconstruction projects for the iwate coast.

now let's take a look at the market figures. ♪ ♪ now let's go to the global weather forecast with sai saika mori. >> hello. welcome to your weather update. let's start out with southeast asia. we've got a deep depression over the bay of bengal. it has been producing a lot of

rain across bangladesh, niche i northeastern india as well as northern myanmar. the system will move inland and spread rain to china. a lot of heavy rain across the southern parts including central thailand that has been contending with the serious flooding situation. meanwhile, it's largely dry across much of eastern china, the korean peninsula, and much of japan. but the region will continue to see cloudy skies throughout the day. and rain is going to continue to affect southern japan as well as the southern korean peninsula on friday. temperatures are as follows. we expect 20 degrees in tokyo and 20 in seoul. taipei is coming in at 28 degrees and 32 in manila. and in bangkok 33 degrees with thundershowers, but the rain will let up on friday. so that's good news. heading over to the americas, a powerful low pressure system is impacting much of the northeastern corner of the u.s.

as well as eastern canada, isolated heavy rain, large hail, and gusty winds will likely continue into thursday. and strong winds could create high waves along the east coast. out toward the west the system is moving across british columbia, bringing wet and windy conditions throughout thursday. but it's a different story for much of western and central parts of the u.s. you can look forward to nice and clear skies. but very strong winds are prevailing in parts of texas and louisiana, raising the risk of wildfires. temperatures are shaping up like this. another cool day for you in winnipeg. only 9 degrees. and 10 in chicago and 13 in toronto. but the southern portions are on the pleasant side. 26 degrees in miami and 24 in houston. and 22 in los angeles. finally, let's go over to europe, then. a large low pressure system will continue to bring cold precipitation as well as strong winds across much of the west

coast of norway, parts of finland, and the northern tier of continental europe. and the system is approaching the northern british isles. so it's going to be wet and windy across the british isles in the days to come. and down in the south rain is moving southward and reaches italy as well as the northwestern balkan peninsula in the next 24 hours. meanwhile, it's largely dry across the iberian peninsula. we're expecting 19 degrees in madrid and 26 in lisbon. but it's largely cold in much of europe. 10 degrees in berlin and 9 in vienna. and it's going to be 13 in kiev and 9 in moscow with plenty of sunshine and 8 degrees in stockholm. all right, then. here is your extended forecast. ♪

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♪ our lead story this hour, much of greece came to a standstill on wednesday as tens of thousands of people walked off the job. the action is part of a two-day strike ahead of a crucial vote in parliament on a new round of salary cuts and tax hikes. >> reporter: greeks are descending on the streets in central athens to take part in the demonstration. >> the nationwide strike began on wednesday morning, when public transport and other workers left their workplaces in response to calls from labor unions. in athens more than 120,000 people took to the streets in the largest protests since the greek debt crisis surfaced in

2009. but the demonstrations turned violent when some of the protesters started smashing store windows and throwing fire bombs at police, who responded with tear gas. the greek parliament gave initial approval to a new round of austerity measures in a vote late on wednesday. a final vote is scheduled for thursday. the measures include tax hikes, cuts to pensions and wages, and a reduction of 30,000 government jobs. prime minister george papandreou hopes to secure a final vote in order to receive new loans from other euro zone members and the international monetary fund. and that's all for this edition of "newsline." i'm catherine kobayashi in tokyo. do stay with us. we'll be back with more of your updates at the top of the next hour.

>> this week on dialogue "saudi arabia in the shadow of the arab revolt". ♪ [music]